It’s likely that you have come across Million Money through an email list, on social media or got it recommended by a friend or family member.
Is Million Money a scam? The reasons why you’re here is because you have want answers right so, that’s what I’m going to provide for you within this Million Money review.
First and foremost I must commend you for actually doing a bit of extra research before committing to joining Million Money. For all you could have known, the product could be a major scam so the fact you’re here right now, researching whether or not that’s the case is a pretty smart move on your part.
To be fully transparent with you, I am personally not a member of Million Money so I can assure you that I will not attempt to sell you it unless of course it’s worth investing in.
What I will aim to do is provide you with an unbiased 3rd party look at Million Money that will hopefully help you to make the best decision you can in the end.
PRODUCT NAME: Million Money
OWNER/S: not disclosed
TYPE OF PRODUCT: Crypto MLM
PRICE: 0.03 ETH
SUMMARY: I personally would say that Million Money is a pyramid scheme and scam.
This is because recruitment is the only way to make money with the company, it uses a ponzi scheme like pay to play structure for its business, there aren’t any retailable products for individuals who aren’t at the very least members, the owner doesn’t show up and the lack of any legal documentation, are the reasons why I cannot recommended wasting your time on the company as eventually it will burn you.
FINAL RATING: 0/5
RECOMMENDED: NO!!
WHAT IS MILLION MONEY?
Million Money appears to be a cryptocurrency (ethereum) based matrix cycler MLM. What this means is that in order to make money with this opportunity you’ll need to fill in an entire matrix cycle. Of course I’ll explain what that is in a bit more detail when discussing the compensation plan but first I’ll present you with an overview on the company.
As for who the owner of the company is and when it was founded, this isn’t information that’s easy to find at all. The only thing I was able to distinguish was the websites domain age which shows that million money was founded in August 13th 2018 however, the domain was registered privately so info on a possible buyer isn’t accessible.
This lack of information on the founders or just the current owners is a sign that I’ve seen scam like systems often use so, if for some reason you were immediately sold on this system before joining, hopefully at the very least now you’d think long and hard before transferring your money and details to Million Money, which mind you doesn’t even seem to have a privacy policy or other earning disclaimers or disclosures to even partially legitimise it.
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MILLION MONEY PRODUCTS
Million Money does not offer physical or retailable products to its members at all. The only thing you can do is purchase the membership and then promote that membership to other potential customers.
This is generally a huge red flag within the MLM scene and according to the FTC’s guidelines. This is because in order to be regarded as a legitimate entity a company must offer something of value to customers without the need of becoming a member. Of course this is not something that is offered by million money and therefore is kind of a big problem.
HOW DO YOU MAKE MONEY WITH MILLION MONEY?
As is the case with pretty much all MLM businesses there are 2 ways to make money with them, Million Money being no exception.
1. The first method is by directly selling the product to other individuals and in return make a commission for the sales
2. You make money through your recruits and downline, by getting residual income by following and meeting certain criteria as well as make money through bonuses and incentives due to meeting company set goals.
HOW TO GET STARTED
If you want to join Million Money you’ll need to purchase at least one 0.03 ETH matrix position, of which a payment is required every 100 days.
In order to gain full access to the compensation plan however, a member will need to invest 78.99 ETH every one hundred days, which in the current market is equivalent to around $8k, which I don’t really need to tell you is a lot of money.
COMPENSATION STRUCTURE
The compensation plan as I mentioned above, follows a matrix cycler structure, which in this case is a 2×5 matrix. What this means is that you’ll be able to recruit 2 members under you, your 2 recruits will be able to do the same as will their recruits until the the 5th level in the matrix.
When specific areas of the matrix are filled up, members will be eligible to earn the following commissions :
- level 1 (positions cost 0.03 ETH) – 0.03 ETH per position filled (2 positions to fill)
- level 2 (0.05 ETH fee charged) – 0.2 ETH per position filled (4 positions to fill)
- level 3 (0.1 ETH fee charged) – 0.8 ETH per position filled (8 positions to fill)
- level 4 (0.4 ETH fee charged) – 0.4 ETH per position filled (16 positions to fill)
- level 5 (1 ETH fee charged) – 1 ETH per position filled (32 positions to fill)
After the first matrix is filled up your second matrix cycle will start up and essentially follow the same pay out structure :
- level 1 (2.5 ETH fee charged) – 2.5 ETH per position filled (2 positions to fill)
- level 2 (5 ETH fee charged) – 5 ETH per position filled (4 positions to fill)
- level 3 (10 ETH fee charged) – 10 ETH per position filled (8 positions to fill)
- level 4 (20 ETH fee charged) – 20 ETH per position filled (16 positions to fill)
- level 5 (40 ETH fee charged) – 40 ETH per position filled (32 positions to fill)
These payments are made every 100 hundred days.
THE NOT SO GOOD THINGS
Recruitment Is Essential For Success
As there aren’t any products that can be sold to just normal customers, the only way an affiliate will be able to make money with Million Money will be through recruitment and nothing else.
I guess you could say the ethereum valuation might be another way to make money but, due to how volatile the crypto market is, I can’t really classify that as a legit way to make money with Million Money.
The fact that recruitment is the only way to make money with Million Money is actually a very big red flag as you’ll basically be promoting a valueless product and have newer affiliates continue this cycle.
Furthermore, if you want to gain access to the maximum potential of the compensation plan you’ll be required to spend $8k+ every 100 days to do so, which is another red flag as pyramid schemes like MOBE and digital altitude also employed these tactics.
So yeah, the fact recruitment is mandatory for success is a massive problem and a very good reason to be cautious of the opportunity.
There Are No Retailable Products
The lack of any products that can be sold to normal customers is also a red flag and a common element of ponzi schemes.
So it goes without saying why this is a major red flag.
The Owner Doesn’t Show Up
Often times when the owner of a company doesn’t show up, it tends to imply that they know their product is a ponzi scheme or simply sucks.
Therefore, by the owner not showing up here I am more inclined to believe Million Money is very likely to not be a legit entity
There Doesn’t Seem To Be Any Legal Documentation On The Website
The lack of any legal documents in the form of a privacy policy or disclaimers in general, is another red flag and reason to be suspicious of the company.
THE GOOD THINGS
There is literally nothing good about Million Money, it’s simply a site and MLM opportunity that you absolutely must avoid.
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IS MILLION MONEY A PYRAMID SCHEME/SCAM?
I personally would say that Million Money is a pyramid scheme and scam.
This is because recruitment is the only way to make money with the company, it uses a ponzi scheme like pay to play structure for its business, there aren’t any retailable products for individuals who aren’t at the very least members, the owner doesn’t show up and the lack of any legal documentation, are the reasons why I cannot recommended wasting your time on the company as eventually it will burn you.
MY PERSONAL RECOMMENDATION
I personally will always recommend against using a MLM business model to make money, not because you can’t make money through it (you totally can) but, the system has always seemed shady to myself and is kinda synonymous with the likes of a pyramid scheme or scams (MOBE and Digital altitude).
Instead I prefer working with something created through ones own means and is ultimately dependent on yourself and your work ethic alone.
This method I’m talking about is affiliate marketing.
The reasons as to why I recommend it over MLM based structures are because
– there is no need to recruit constantly
– it is a legitimate method that has been working consistently and continues to grow as more businesses want individuals to promote products
– and because it is free to start up, no unnecessarily large start up funds needed.
The service I recommend is Wealthy Affiliate. It’s free to sign up to and will get you set up and ready to start your affiliate marketing journey within minutes, as it did for me when I begun my journey.
If you have any questions that you would like to ask me regarding Million Money, feel free to do so in the comments section below and I will get back to you as soon as I can. If you have your own thoughts about Million Money and would like to talk about it, again feel free to do so in the comments below!
Thanks
Amhil